On April 1, Cyclone Company purchases a trencher for $290,000. The machine is expected to last...
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On April 1, Cyclone Company purchases a trencher for $290,000. The machine is expected to last five years and have a salvage value of $45,000. Exercise 8-12 (Algo) Double-declining-balance, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. Note: Enter all amounts as positive values. Depreciation for the Period End of Period Annual Period Beginning of Period Book Depreciation Rate Partial Year Depreciation Accumulated Book Value Expense Depreciation Value Year 1 Year 2 $ 290,000 40% 9/12 $ 0 $ 0 12/12 $ 0 $ 0 On April 1, Cyclone Company purchases a trencher for $290,000. The machine is expected to last five years and have a salvage value of $45,000. Exercise 8-12 (Algo) Double-declining-balance, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. Note: Enter all amounts as positive values. Depreciation for the Period End of Period Annual Period Beginning of Period Book Depreciation Rate Partial Year Depreciation Accumulated Book Value Expense Depreciation Value Year 1 Year 2 $ 290,000 40% 9/12 $ 0 $ 0 12/12 $ 0 $ 0
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